KIU Journal of Humanities
KIU Journal of Humanities Copyright©2020
Kampala International University ISSN: 2415-0843; 5(3): 33–40
Effects of Youth Unemployment and its Consequences on Economic Growth in Nigeria
ODUMADE AKOREDE SERIFAT
Tai Solarin University of Education, Ijagun, Ijebu-Ode, Ogun State, Nigeria
Abstract. This study investigated the effects of youth
unemployment and its consequences on economic
growth in Nigeria. One of the greatest challenges
facing the Nigeria economy is unemployment. The
problem of unemployment in Nigeria is a national
issue that should be handled with care as the rate of
unemployment in Nigeria since 1973 has been
growing in a geometric progression. Its source could
be traced to the diversification of Nigeria economy
into oil sector that only provides less than 10%
employment opportunity to its labour force.
Descriptive research design of survey type was used
while multi-stage sampling technique was employed
in selecting 600 respondents. Two research questions
and three research hypotheses were tested using
Effect and Consequences of Youth Unemployment
Questionnaire (EACOYUQ). Data were analyzed
using frequency counts, percentages and Pearson
product moment correlation. The results showed that
there is significant relationship between youth
unemployment rate and Nigerian economic growth
(r=0.820, P<0.05), between youth unemployment rate
and government’s programmes to solve the problem
(r=0.924, P<0.05), and between government’s
programmes to solve the problem and government’s
possible ways in ensuring the reduction of
unemployment level in Nigeria (r=0.765, P<0.05).
The result further showed that rapid growth of
population (89.1%), massive corruption (81.7%),
growth of labour force (81.5%), lack of employable
skills (80.6%), lack of industries/factories (79.2%)
and cultural barriers (64.3%) were major causes of
youth unemployment while the study also revealed
that the use of youth as political thugs (87.5%), the
use of youth in various anti-social vices (81.5%) and
the use of youth to destabilize and truncate the
democratic and development process in the state
(71.7%) were the consequences of youth
unemployment. Based on this it was recommended
that government should encourage entrepreneurial
activities which are believed to be the remote cause
33
of unemployment problem in Nigeria. Also, National
Directorate of Employment should be allowed to give
loans to people with viable and profitable projects
that could guarantee employment through the product
of both industrial and agricultural consumable
products and goods.
Keywords: Effects, Unemployment, Growth,
Nigeria, Economic Development.
1. Introduction
One of the greatest challenges facing the Nigeria
economy is unemployment which has maintained a
rising trend over the years. The problem of
unemployment in Nigeria is a national issue that
should be handled with care. The rate of
unemployment in Nigeria since 1973 has been
growing in a geometric progression and the issue has
become a world-wide phenomenon demanding for
increased attention as the impact is more devastating
(Ejikeme, 2014). According to the National Bureau
of Statistics (2012), Nigeria rate of unemployment
stand at 19.7%. In fact, Akeju & Olanipekun, (2014),
identifies unemployment as one of the major
challenges confronting the Nigeria - economic
development. The menace of unemployment in
Nigeria since early 1980s has been an issue of great
concern to the economists, policy makers, economic
managers, individuals, government and many others
(Bello, 2003). The effect of financial crisis on public
and private sectors has led to renew attention on the
phenomenon. Fadayomi (1992) and Osinubi (2006),
argued that unemployment is as a result of the
inability to develop and utilize the nation’s
manpower resources effectively.
Nigeria is a country that is endowed with enormous
resources, both human and material. Despite the
abundant resources endowed on Nigeria by nature, its
citizens are still struggling to survive due to
 KIU Journal of Humanities
economic hardships or difficulties in the country
(Ekpo, 2008). Undoubtedly, parts of the
macroeconomic goals which the government strives
to achieve are the maintenance of stable domestic
price level and full-employment. Macroeconomic
performance is judged by three broad measures-
unemployment rate, inflation rate, and the growth
rate of output (Fadayomi, 1992). Unemployment is
generally seen as a macro-economic problem as well
as socio-economic problem. It has been categorized
as one of the serious impediments to social progress.
Apart from representing an enormous waste of a
country’s manpower resources, it generates welfare
loss in terms of lower output thereby leading to lower
income and well-being (Ejikeme, 2014; Ekpo, 2008).
Unemployment arises as a result of insufficient and
non-availability of jobs to correspond with the
growing population, even those who are employed
sometimes lives with the fear of being unemployed
due to job insecurity and retrenchment of workers.
There is employment if factors of production are
engaged in production.
Fajana (2000), defined unemployment as a situation
where people who are willing and capable of working
are unable to find suitable paid employment. He said
further that the higher the rate of unemployment in an
economy, the higher the level of poverty and
associated welfare challenges. It is a widely accepted
view in economics that the growth rate of the Gross
Domestic Product (GDP) of an economy increases
employment and reduces unemployment. The Nigeria
economy has had a truncated history. In the period of
1970-1980, the Gross Domestic Product (GDP)
recorded 3.1 percent growth annually. During the oil
boom era, roughly 1980-1988 GDP grew positively
by 6.2 percent annually; a remarkable growth.
However, in the 1990s, GDP had a negative growth
rates. In the period of 1998-2007 which constitutes
the period of structural adjustment and economic
liberalization, the GDP responded to economic
adjustment policies and grew at a positive rate of 4.0
in the years after independence, industry and
manufacturing sectors had positive growth rates
except for the period 1990-1998 where industry and
manufacturing grew negatively by -3.2 percent and -
2.9 percent respectively. According to Okun (1962),
the negative relationship between movements of the
unemployment rate and the real gross domestic
product (GDP) was as a result of changes in
aggregate demand, industry changes their production
pattern which leads to changes in demand for labour
which alter the unemployment rates.
According to Oni (2006), unemployment problem in
Nigeria has different dimensions. There are
34
underemployment cases in which people receive
incomes that are inadequate to support their basic
needs, in terms of food, clothing and shelter. There
are also cases of disguised unemployment where
people take up jobs that are below their educational
attainment and experience. The worst case of all is
that of people seeking for job opportunities but who
cannot find any either in the public or the private
sector. Some people are willing and ready to set up
enterprises themselves and engage in one type of
economic activity or the other but are constrained by
the prevailing poor macroeconomic environment. All
these have contributed significantly to the high level
of unemployment and poverty in Africa. The rise in
the unemployment rate was largely attributed to the
increased number of school graduates with no
matching job opportunities, a freeze on employment
in many public and private sector institutions as well
as the slow disbursement of the capital budget by the
Federal Government (Adebayo, 1999; Arewa &
Nwakanma, 2012). Alanana, (2003) opines that
unemployment is potentially dangerous as it sends
disturbing signal to all segments of the Nigerian
Society. The rate of youth unemployment in Nigeria
is high, even at the period of economic normalcy i.e.
the oil boom of the 1970s (6.2%); 1980s (9.8%) and
the 1990s (11.5%).
Daniels and Ejara (2012) opined that there are many
types of unemployment in Nigeria: structural
unemployment, cyclical unemployment, frictional
unemployment and classical unemployment. The
structural unemployment occurs due to globalization
and technological advancement which replace the
workers with the machinery that causes the layoffs in
the economy. It is also caused by mismatch of skills
of workers from the underlying jobs. Cyclical
unemployment occurs when the aggregate demand of
the economy is not sufficient to give the jobs to
everyone who wants to work, because aggregate
supply of goods and services exceed from the
aggregate demand that can discourage the production
and consequently it reduces the workers. Frictional
unemployment occurs when the skills of the workers
are mismatched with the underlying jobs, it is like a
structural unemployment but it is short run in nature
while structural unemployment has long lasting
effect. Classical unemployment arises when
government set the wage rates above the equilibrium
prices that cause labour to rush for the jobs in the
labour market which exceeds from the existing
vacancies. They concluded that the analysis of
employment data in the last decade shows that the
rate of new entrants into the labour market has not
been uniform. The rate was on the increase from
2007 to 2009, but declined significantly from 2009 to
 KIU Journal of Humanities
2010, and increased again from 2010 to 2011.
“Within the five-year period, there has been an
average of about 1.8 million new entrants into the
active labour market per year”.
Walterskirchen (1999) argued that higher
employment among low skilled workers leads to
higher growth because it becomes more profitable to
invest in human capital when this is combined with
more low skilled workers. Higher employment also
implies more human capital accumulation if this
occurs mainly through learning the job. An effect
working in the opposite direction is however, that
higher employment is likely to reduce the average
time spent in the education system before students
enter the labour force (Storesletten & Zilibotti, 2000).
Adebayo & Ogunrinola (2006), noted that
unemployment in Nigeria increased by 69 percent
from 6.1 in 1985 to 19.7 in 2009 while in 2010 and
2011 experienced an increased to 21.1 and 23.9
percent respectively. The economy grew by 72
percent from 281,407.4 in 1995 to 814,407.0 in 2011.
What this means, is that, as unemployment was
increasing, the economy was equally growing, why?
The rate of unemployment increases as a result of
increase in the population of the country. An increase
in population signals an increase in labour supply.
It should be noted that the average contribution of the
oil sector to the GDP between 1995 and 2011 is 26.7
percent, while agriculture which is the main source of
gainful employment in the country contributed 39.3
percent just a difference of 12.6 percent from that of
oil that employs less than 10 percent of the labour
force. In 1995, agriculture contributed 34.1 percent to
the GDP and 43.5 percent in 2011; this represents an
increase of 9.4 percent with this sector employing
over 50 percent of labour in the country, there should
have been a decrease in the rate of unemployment but
rather the rate of unemployment increased by 69
percent (CBN, 2012). This can be attributed to the
neglect of the important sectors such as agriculture
where the country has comparative advantage
(Adebayo & Ogunrinola, 2006). Other causes of this
abnormal situation include: Gross mismanagement of
national resources leading to wasteful spending and
misappropriation of funds and priorities (Bassey &
Atan, 2012); weak infrastructural facilities in the
country that did not aid rapid industrialization
(Akintoye, 2008); and lack of political will to
implement certain policies that could open up the
Nigerian economy to private sector participation
(Bello, 2009). One of such is the unwillingness on the
part of the government to implement full deregulation
in the downstream sector of the oil and gas. Bello
(2003) also added that another cause is the weak
35
educational system that is not adequate to equip
youths with requisite technical and entrepreneurial
skills.
Scholars have written widely on unemployment issue
and its effects on the growth and development of
Nigeria. According to Anyadike, Emeh & Ukah
(2012), every nation's economy is characterized by
both active and inactive populations. They observed
that the economically active ones are those
populations willing and able to work, and include
those actively engaged in the production of goods
and services and those who are unemployed. The
International Labour Organisation in their
contribution has it that the unemployed are numbers
of the economically active population who are
without work but available for and seeking for work.
They also include people who have lost their jobs and
those who have voluntarily left work (World Bank,
1999). On the part of Bassey & Atan (2012),
Nigerian has the potential for rapid economic growth
and development, with her rich human and material
resources, yet the country's economic performance
has been described as being truncated, erratic, dismal
and largely unimpressed (Ajayi, 2002; Akeju &
Olanipekun, 2014; Ekpo, 2008). The poor growth
performance of the economy is depicted in the rising
incidence of poverty, massive and graduate
unemployment, skyrocketing inflation, worsening
balance of payments disequilibrium, monumental
external debt burden, widening income disparity and
growing fiscal imbalances which takes into
consideration the Nigeria crises of
underdevelopment. This is why Ekpo (2008) in
Bassey & Atan (2012), affirmed that all these
problems are rooted in the pervasive distortions
existing within the economy.
Unemployment, takes a doomsday scenario in
Nigeria as it developed a decade after Nigeria had her
independence. Akintoye (2008) opined that the rate
of unemployment rise from 4.3% to 6.4% and further
rose to 7.1% in 1987. This rise in unemployment rate
came as a result of economic depression which
engulfed the nation and spread its effects that resulted
to massive closure of businesses and retrenchment of
workers. This was followed by the placement of
embargo on recruitment which further worsened the
situation. Bassey & Atan, (2012) opined that the
Structural Adjustment Programme (SAP) had a
salutary effect on job creation leading to a sharp fall
in unemployment figure from 7.1% in 1987 to 3% in
1994. However, the rate of unemployment in Nigeria
kept on increasing. Oyebade (2003) asserted that,
Nigeria’s unemployment can be grouped into two
categories: first, the older unemployed who lost their
 KIU Journal of Humanities
jobs through retrenchment, redundancy, or
bankruptcy; and second, the younger unemployed,
most of whom have never been employed. In the
words of Awogbenle & Iwuamadi (2016), a statistics
from the Manpower Board and the Federal Bureau of
Statistics indicated that, Nigeria has a youth
population of 80 million, representing 60% of the
total population of the country. Also, 64 million of
them are unemployed, while 1.6 million are under-
employed.
In fact, Feridum & Akindele (2006); George and
Oseni (2012); Ezie (2012) and Ede, Ndubisi &
Nwankwo (2013), identifies unemployment as one of
the major challenges confronting the Nigeria-
economic development. The menace of
unemployment in Nigeria both now and in the recent
past has been an issue of great concern to the
economists, policy makers, economic managers,
individuals, government and many others (Bello,
2003). This earliest thinking on economic issues did
not fail to give a central point of reflection on the
undesirability of unemployment (Njoku & Ihugba,
2011). Unemployment has been defined as a situation
where
people who are willing and capable of working are
unable to find suitable paid employment (Fajana,
2000). He said further that the higher the rate of
unemployment in an economy, the higher the level of
poverty and associated welfare challenges.
The issue of unemployment brought about some
social and economic consequences such as; increase
in crime rate, loss of respect and identity, reduction in
purchasing power, psychological injuries, corruption
among others. Muhammed, Inuwa & Oye (2011)
submitted that unemployment constitutes a series of
serious development problems and is increasingly
more serious all over Nigeria. They said further that
the implication of unemployment on gross domestic
product in Nigeria over the period of nine years
(2000-2008) showed that unemployment has an
enormous effect on the Nigerian GDP and there exist
an inverse relationship between unemployment and
gross domestic product, which implies that as
unemployment increases, gross domestic product
falls. Alanana (2003), argued that unemployment is
potentially dangerous as it sends disturbing signals to
all segment of the economy. Ejikene (2014), assessed
the link unemployment and poverty has on security in
Nigeria and concluded that both unemployment and
poverty have direct link to security challenges in
Nigeria.
2. Statement of the problem
36
The level of unemployment in Nigeria has grown
large as it affected the youth and the economic
development of the country from a broad spectrum of
socio-economic perspective. It is obvious that
unemployment especially that of graduates impedes
Nigeria’s progress in several ways. Apart from the
economic waste it brought to the nation, it also
constitutes political unrest for the country. Thus, the
situation is disturbing and even more disheartening
that the country’s economic condition cannot absorb
an optimal proportion of its labour force. This
situation has contributed to the increase in crimes and
other social vices experienced in our society in recent
time. Based on this aforementioned reason, the study
sought to investigate the effect of youth
unemployment and its consequences on economic
growth in Nigeria.
3. Research Questions
RQ1: What are the causes of youth unemployment in
Ogun State, Nigeria.
RQ2: What are the consequences of youth
unemployment in Ogun State, Nigeria
4. Hypotheses
The following hypotheses were tested to guide the
study:
Ho1: there is no significant relationship between
youth unemployment rate and Nigerian economy
growth
Ho2: there is no significant relationship between
youth unemployment rate and government’s
programmes to solve the problem
Ho3: there is no significant relationship between
youth unemployment rate and government’s possible
ways in ensuring the reduction of unemployment
level in Nigeria
5. Methodology
Research Design - The study adopted a descriptive
research design and a survey type was employed as
the manipulation of variables was not possible.
Population - The population for the study comprised
of all the unemployed youth from three local
government areas that were randomly selected in
Ogun State, Nigera.
Sample and Sampling Techniques - The sample of
the study was selected using the multi-stage sampling
procedure. First, simple random sampling technique
was used to select Ogun East Senatorial District from
 KIU Journal of Humanities

the three senatorial districts in Ogun State. Second,
simple random sampling technique was used to select
three local government areas from the nine local
government areas in Ogun-East Senatorial district.
Lastly, convenience sampling technique was applied
in selecting 600 respondents form the population.
Instrumentation - Data were collected using well
structured questionnaire with title - Effect and
Consequences of Youth Unemployment
Questionnaire (EACOYUQ). The questionnaire
consists of three sections. Section A contained the
demographic data of the respondents; section B
contained information to elicit responses on the effect
of youth unemployment on while section C contained
information to elicit responses on the consequences
of youth unemployment in Ogun State. This
instrument has 18 likert scale items with four options
ranging from “strongly agree” to “strongly disagree”
while 7 other items were not likert scale items. The
instrument was pilot tested on fifty unemployed
graduate youths from a local government that was not
part of the real study sample and a reliability
coefficient of 0.83 was recorded using crombach
alpha reliability. The administration of the instrument
was coordinated by the researcher. 589 copies of the
instrument were found to have been properly
completed and returned at the end of the exercise.
Method of Data Analysis - The data collected were
analyzed using descriptive statistic of frequency
counts and percentages while the hypotheses were
analyzed using inferential analysis of Pearson
Product Moment Correlation.

6. Result Findings

RQ1: What are the causes of youth unemployment in Ogun State, Nigeria.

Table 1: Causes of youth unemployment

Causes of youth unemployment SA A D SD Total
Rapid growth of population 350 167 45 18 580
60.3% 28.8% 7.8% 3.1%
Rapid growth of labour force 362 96 54 50 562
64.4 % 17.1% 9.6% 8.9%
Lack of employable skills 335 128 67 45 575
58.3 % 22.3% 11.7% 7.8%
Massive corruption 360 120 87 20 587
61.3 % 20.4% 14.8% 3.4%
Lack of industries / factories 349 89 48 67 553
63.1 % 16.1% 8.7% 12.1%
Cultural barrier 225 117 103 86 531
42.4 % 22.0% 19.4% 16.2%

Table 1 revealed that rapid growth of population was ranked first with response percentage of 89.1%. This was
followed by massive corruption (81.7%); rapid growth of labour force (81.5%); Lack of employable skills (80.6%);
Lack of industries/factories (79.2%) and the least of the causes of youth unemployment in the state was the cultural
barrier with response percentage of 64.4%.

RQ2: What are the consequences of youth unemployment in Ogun State, Nigeria

Table 2: Consequence of youth unemployed in the state

Consequence SA A SD D Total
Youth as political thugs 251 154 104 67 576
43.6% 26.7% 18.1% 11.6%
Youth as local militants 280 117 106 81 584
47.9% 20.0% 9.6% 18.2%
Youth as an instrument for anti- social 376 102 49 60 587
vices 64.1% 17.4% 8.3% 10.2%

The result of Table 2 revealed that the use of youth as an instrument for anti-social vices is one the major
consequence of youth unemployment in the state, this represented 81.5% of the respondents. This was followed by
the use of youth for political thugs with 70.3% of the respondents agreeing with this. The Table 2 further revealed
that 67.9% of the respondents were of the view that unemployed youth were utilized as local militants to attack,
destroy properties and lives which affect the socio-economic status of the state.

Re-statement of Hypotheses

37
 KIU Journal of Humanities
Ho1: There is no significant relationship between youth unemployment rate and Nigerian economy growth
Ho2: There is no significant relationship between youth unemployment rate and government’s programmes to solve
the problem
Ho3: There is no significant relationship between youth unemployment rate and government’s possible ways in
ensuring the reduction of unemployment level in Nigeria
Result
Table 3: Correlation matrix of the three variables
Unemployment rate
Unemployment rate. 1 .820**
Sig. (2- tailed)
589
Government’s programmes to .820**
solve the problem
Sig. (2- tailed) .000
589
Government’s possible ways in .924**
ensuring the reduction of
unemployment level in Nigeria .000
Sig. (2- tailed)
589
*Correlation is significant at the 0.01 level (2-tailed).
Table 3 reveals that there is significant relationship
between unemployment rate and government’s
programmes to solve the problem (r=0.820, P<0.05).
The table also shows that there is significant
relationship between unemployment rate and
Government’s possible ways in ensuring the
reduction of unemployment level in Nigeria (r=0.924,
P<0.05). The table further reveals that there is also a
significant relationship between government’s
programmes to solve the problem and government’s
possible ways in ensuring the reduction of
unemployment level in Nigeria (r=0.765, P<0.05).
7. Discussion of Findings
Table 1 revealed that various factors cause the youth
unemployment in the state. These factors range from
rapid growth of population to cultural barrier. The
rapid growth of population was ranked first with
response percentage of 89.1%. This was followed by
massive corruption (81.7%); rapid growth of labour
force (81.5%); lack of employable skills (80.6%);
lack of industries/factories (79.2%) and the least of
the causes of youth unemployment in the state was
the cultural barrier with response percentage of
64.4%. This finding agrees with that of Adebayo &
Ogunrinola (2006), Alanana (2003), Awogbenle &
Iwuamadi (2016) and Ayinde (2008) who equally
observed that, among the causes hindering
unemployment of youth in Nigeria were rural urban-
Government’s programmes Government’s possible ways in ensuring the
to solve the problem reduction of unemployment level in Nigeria
.924**
.000 .000
589 589
1 .765**
.000
589 589
.765** 1
.000
589 589
migration, rapid growth of population, lack of
employable skills, lack of vibrant industrial sector
and massive corruption.
The result of Table 2 revealed that the use of youth as
an instrument for anti-social vices is one the major
consequences of youth unemployment in the state
and this represented 81.5% of the respondents. This
implies that youth were made to become willing tools
of arson, assault, abduction, stealing, armed robbery,
terrorism, sex offences and so on. The findings also
revealed that 70.3% of the respondents agreed that
youth were used as political thugs in the state. This
implies that youth were made to become willing tools
in the hand of politicians as they were used for anti-
social and dirty political activities. This has the
potential to destabilize and truncate the democratic
and development process in the state and Nigeria at
large. The table further revealed that 67.9% of the
respondents were of the view that unemployed youth
were utilized as local militants to attack, destroy
properties and lives which affect the socio-economic
status of the state. This finding was in agreement
with the findings of Awogbenle & Iwuamadi (2016),
Ejikeme (2014), Osinubi (2006) and Fadayomi
(1992).
Table 3 reveals that there is significant relationship
between unemployment rate and government’s
programmes to solve the problem (r=0.820, P<0.05).
38
 KIU Journal of Humanities
The implication of this is that the programme from
the government is good enough to solve the problem
of unemployment rate. The table also shows that
there is significant relationship between
unemployment rate and government’s possible ways
in ensuring the reduction of unemployment level in
Nigeria (r=0.924, P<0.05). This implies that Nigerian
government has in many ways established and
initiated various policies and programmes that have
helped to eradicate unemployment in the country, but
in view of these initiatives like; National Directorate
of Employment (NDE), National Economic
Employment and Development Strategy (NEEDS),
National Poverty Eradication Programme (NAPEP),
amongst others, the objective of the initiated
programmes and policies is yet to be realized owing
to high level of corruption and nepotism in the
country.
It follows that the possible ways of reducing
unemployment level in Nigeria is in agreement with
the unemployment rate. There is also a significant
relationship between government’s programmes to
solve the problem and government’s possible ways in
ensuring the reduction of unemployment level in
Nigeria (r=0.765, P<0.05). However, the study
revealed that there are other possible measures that
could be adopted to ensure that unemployment rate in
Nigeria are reduced to the barest minimum. These
include; compulsory introduction and full inclusion
of entrepreneurship studies in all curriculum of
higher learning, monitoring of the disbursed funds
and ensure that these funds get to the people it is
meant for, setting training centres in all local
government area of the states in Nigeria and amongst
others. This finding was supported by Njoku &
Ihugba (2011); Anyadike, Emeh & Ukah (2012);
Bassey & Atan (2012) and Bello (2003).
8. Recommendations
Government should encourage entrepreneurial
activities which are believed to be the remote cause
of unemployment problem in Nigeria. Also, National
Directorate of Employment should be allowed to give
loans to people with viable and profitable projects
that could guarantee employment through the product
of both industrial and agricultural consumable
products and goods. The government should also
improve the power sector to end the looming energy
crisis in Nigeria and encourage entrepreneurial
activities which is believed to be the remote cause of
unemployment problem in the country. This could
help to improve the employment rate in the country
which in turn will improve the people’s standard of
living. Finally, there should be a government
39
regulated means on the lending rate from banks to
encourage youths to borrow money in order to invest
more on small scale business as lack of access to
finance or high interest rate contributed to the major
problems of entrepreneurship development in
Nigeria. The government should also concentrate on
cautioning the rising unemployment rate in Nigeria.
This could be achieved by the establishment of
programmes that will encourage the unemployed
populace in skill development which invariably leads
to self-employment irrespective of their locations. If
this is done, a reduction in waste of manpower will
be observed and this will contribute to the buoyancy
of the nation’s growth. Furthermore, government
spending should tend towards local production to
caution inflationary condition in the economy.
References
Adebayo, A. (1999). Youth Unemployment and
National Directorate of Employment Self-
Employment Programmes. Nigerian Journal
of Economics and Social Studies, 41(1), 8-
1102.
Adebayo, A. and Ogunrinola, I.O. (2006).
Contemporary Dimensions of
Unemployment Problem in Nigeria: A
Special Challenge under the National
Economic Empowerment and Development
Strategy. NES 2006, Ibadan, Nigeria.
Ajayi, S.I., (2002). Institutions the missing link in the
growth process. Proceedings of Nigerian
Economic Society (NES) Annual
Conference, pp: 1-22.
Akintoye, I.R.,(2008). Reducing Unemployment
through the Informal Sector: A Case Study
of Nigeria. European Journal Economics:
Financial. Administration Sciences., 11:
97'06.
Akeju, K.F & Olanipekun, D.B. (2014).
Unemployment and Economic Growth in
Nigeria. Journal of Economics and
Sustainable Development, 5(4), 138-144
Alanana, O.O. (2003), “Youth unemployment in
Nigeria, Some Implications for the third
Millennium”, Global Journal of Social
Sciences 2 (1): 21-26.
Anyadike N, Emeh I. E.J and Ukah F. I (2012).
Entrepreneurship Development and
Employment Generation in Nigeria:
Problems and Prospects. Universal Journal
of Education and General Studies Vol. 1(4)
pp. 088-102.
Arewa A. and Nwakanma P. (2012), “Potential-Real
GDP and Growth Process of Nigerian
Economy, An Empirical Re-evaluation of
 KIU Journal of Humanities
Okun’s Law”, European Scientific Journal,
8(9): 25-33.
Awogbenle, A.C. & Iwuamadi, K.C. (2016). Youth
Unemployment: Entrepreneurship
Development Programme as an Intervention
Mechanism. African Journal of Business
Management,4(6),831-835.
Ayinde, O.E. (2008). Empirical Analysis of
Agricultural Growth and Unemployment in
Nigeria. African Journal of Agricultural
Research, 3(7), 465-468.
Bassey, G. E. and J. A. Atan (2012). Labour Market
Distortions and University Graduate
Unemployment in Nigeria; Issues and
Remedies. Current Research Journal of
Economic Theory 4(3), 67-76.
Bello, T. (2003). Attacking Unemployment Hurdles
in the Fragile Economies of the Sub-Saharan
Africa: The Experience of Nigeria. A Paper
Presented At the-Economics for the Future-
Conference; On The Occasion Of the
Celebration of 100 Years of Cambridge
Economics; Cambridge, United Kingdom
September.
CBN (2005). Statistical Bulletin Vol. 16, December.
CBN (2006). Statistical Bulletin Vol. 17, December.
CBN(2011). Annual Report and Statement of
Account, December
Daniel, K. and Ejara D. (2012), “Impact of
Information Asymmetry on Municipal Bond
Yields: An Empirical Analysis. Am. J. Econ.
Bus. Admin., 1: 11-20.
Ede, C.E., Ndubisi, E.C and Nwankwo, C.A. (2013).
Tackling Unemployment through Private
Sector. International Journal of Innovation
Research in Management. 2(2), 41-52.
Ejikeme, J.N. (2014). Unemployment and Poverty in
Nigeria: A Link to National Insecurity.
Global Journal of Politics and Law
Research, 2(1), 19-35.
Ekpo, A.H.,(2008). The Nigerian Economy: Is it at
the crossroad? Presidential Address at the
NES Annual Conference, pp: 67-105.
Ezie, O. (2012). Youth Unemployment and its Socio-
Economic Implications in Nigeria. Journal
of Social Sciences and Public Policy. 4: 112-
119.
Fadayomi, T.O. (1992). Migration Development and
Urban Policies in Sub Saharan Africa,
Ibadan: Codesria Book Series.
Fajana S (2000). Functioning of the Nigerian Labour
Market, Labonfin and Company, Lagos.
Pp. 23
Feridun, M. & Akindele. S.T. (2006). The crux of the
matter, in Nigeria economy: Essays on
40
Economic Development ed. (Feridun and
Akindele), Munich personal RePEC
Archieve. MPRA, pp 1-13
George, E. O and Oseni, J. O (2012). The
relationship between electricity power and
unemployment rates in Nigeria. Australian
Journal of Business and Management
Research. 2(02): 10-19
Muhammed, S.A; Inuwa, I. & Oye, N.D. (2011).
Unemployment in Nigeria: Implication on
the gross domestic product over the years.
International Journal of Economic and
Research, 2(1), 66-71
National Bureau of Statistics. (2012), National
Unemployment Rates (1995 - 2011).
Retrieved from
www.nigerianstat.gov.ng on 9th November,
2012.
Njoku, A. and O. Ihugba (2011). Unemployment and
Nigerian Economic Growth (1985-2009).
Proceeding of the 2011International
Conference on Teaching, Learning and
Change. International association for
teaching and learning (IATEL). European
Journal of Business and Management, 6 (2),
14 - 22
Okun A. M. (1962), Potential GNP: Its Measurement
and Significance, American Statistical
Association, Proceedings of the Business
and Economics Statistics Section, pp. 98–
104.
Oni B. (2006), Employment Generation: Theoretical
and Empirical Issues. In NSE, Employment
Generation in Nigeria: Selected Papers for
the 2006 Annual Conference pp. 11-30,
Ibadan: Nigerian Economic Society.
Osinubi, T.Y. (2006). The Politics and Solutions,
Vanguard July 19, page 14
Oyebade, S.A. (2003) Education and Unemployment
of Youth in Nigeria: Causes, Impacts and
Suggestions in J.B. Babalola and Adedeji,
S.O. (eds) Contemporary Issue in
Educational Management: Book of Honour,
Ibadan, Nigeria: Department of Educational
Management, University of Ibadan,
Nigeria Pp. 45-65
Storeslctten, K. and F. Zilibotti (2000), Education,
Educational Policy and Growth, Swedish
Economic Policy Review 7: 107-153.
Walterskirchen, E. (1999). The relationship between
growth, employment and Unemployment in
the EU European economists for an
alternative economic policy (TSER
NETWORK). Workshop in Barcelona,16 to
18 September.